Nasdaq plunges amid AI profitability skepticism; homebuilders surge
XHB State Street SPDR S&P Homebuilders ETF
$99.20 +3.77%
View chart & analysis → - 1The Nasdaq Composite fell 2.6% on Thursday, while Meta Platforms plummeted 7% on Thursday.
- 2Homebuilders surged as the benchmark 10-year yield fell 3.8%.
- 3AI demand remains strong, but investors are skeptical about returns on investment for Meta and CoreWeave.
So what's the key point?
The Nasdaq index fell 2.6% as doubts arose regarding whether artificial intelligence technology can generate significant profits. Conversely, homebuilding company stocks rose as interest rates declined.
Source The Motley Fool +1 · View original ↗
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